March 17, 2018

Pharma Bro Martin Shkreli Just Copped Seven Years Behind Bars For Fraud

10 March 2018, 06:00 | Megan Pierce

Martin Shkreli's long, strange tale could end with a decade in prison

Martin Shkreli's long strange tale could end with a decade in prison

"I wanted to grow my stature and my reputation", Shkreli said.

In court a tearful Shkreli apologized: "I did not act appropriately". Matsumoto rejected those motions.

It's a shame "Pharma Bro" Martin Shkreli's sentencing wasn't televised, because all the reporting suggests that it was a complete spectacle.

No word yet on when the Wu Tang album could be released. Shkreli bought the album for $2 million in 2015, but claims he has never listened to it. Now, one memorabilia dealer said, "the bloom is off the rose".

"I'm old enough to be his father", Brafman told the judge prior to sentencing. He suffered panic attacks. "I remember that before the age of 6, he could quickly recall square roots, multiplication tables, the Periodic Table of Elements and do long division", she said. Shkreli called the charges "a witch hunt of epic proportions".

Several years ago, as Shkreli gained notoriety, the two men stopped talking to each other. I was wrong. I was a fool.

Shkreli's fraud predated the price gouging controversy and this trial would have gone largely unnoticed but for his status as an worldwide pariah. "Do not assault anyone for any reason ever (LOLIBERALS)", he wrote in a now deleted Facebook post.

At the sentencing, Shkreli was seen crying amidst the deliberations, according to The Associated Press.

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His online antics would come back to bite him in September of 2017 when, after offering a "bounty" payment for a strand of Hillary Clinton's hair, his bail was revoked and he was put behind bars pending sentencing.

To make its case for leniency, the defense asked the judge to consider several letters from Shkreli and his supporters, which included professionals he worked with who vouched for his credentials as a self-made contributor to pharmaceutical advances. He has been there since.

Assistant U.S. Attorney Jacquelyn Kasulis said the 15 year sentence was justified in part because Shkreli's crimes were not an "isolated lapse in judgment", but a pattern of conduct including separate frauds for his two hedge funds and for his drug company Retrophin Inc.

"He can't be just an average person who fails, like the rest of us".

"There are times I want to punch him in the face, because he's made my job more hard by some of the things he's said", #MartinShkreli's lawyer Benjamin Brafman tells judge at sentencing. "There are times when I want to punch him in the face, because he's made my job more hard".

The judge also imposed a fine of $US75,000, separate from the $US7.36 million in forfeiture that she ruled Monday that he must pay, after noting that his net worth is $US27.2 million.

In his defence, letters were given to the court which highlighted Shkreli's capacity for generosity - such as the time he has spent teaching inmates chess and mathematics and the counselling he gave to a rape victim. Shkreli's attorney, Benjamin Brafman, wrote in a court filing.

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